Farm Ireland

Tuesday 20 February 2018

Negotiations set to run after 174ac Tipp sale stutters

Jim OBrien

A 174ac farm that includes tillage, grazing, forestry and an old residence located near Rathcabbin, Co Tipperary was withdrawn from auction on Thursday last. When bidding came to a halt at €730,000, quite a distance from the guide price of of €1m, auctioneer Michael Duignan withdrew the property and entered negotiations with the highest bidder, a local farmer.

Mr Duignan expressed disappointment that the property did not sell as there has been huge interest in the sale, evidenced by a packed auction room at the County Arms Hotel, Birr.

When the sale opened, the auctioneer sought bids in excess of €600,000. Three bidders, two local farmers and a solicitor acting for a client, showed interest and in bids of €10,000 matters proceeded until the property was withdrawn.

The farm, which is part of the estate of the late Patrick O'Neill of Roden, Rathcabbin, is located on the Offaly/Tipperary border and divided by the main Birr to Portumna road.

The lands to the north of the road comprise 33ac of tillage ground, while 80ac of grazing land lie to the south. There is substantial road frontage and the land can be accessed through several roadside entrances. The farm has an extensive concrete yard that includes a range of slatted units, sheds with wintering accommodation for several hundred cattle along with other storage and feeding sheds.

There is also a large silage slab with soakage pit and a large, raised molasses tank beside the slatted units.

Water is supplied from the mains system and a private well.

In addition to the grazing and tillage land, the farm includes more than 60ac of forestry with premiums remaining.

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The dwelling house is in need of considerable modernisation.

Mr Duignan is confident the farm will be sold. If current negotiations with the highest bidder do not prove fruitful he intends to open talks with customers interested in the property in lots.

Indo Farming